Novanta (NOVT) Earns News Sentiment Rating of 0.15

News coverage about Novanta (NASDAQ:NOVT) has been trending somewhat positive recently, according to Accern. The research firm rates the sentiment of press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Novanta earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave news articles about the technology company an impact score of 44.2126782173173 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

Several research analysts recently commented on NOVT shares. BidaskClub cut Novanta from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Robert W. Baird initiated coverage on Novanta in a research report on Thursday, December 7th. They issued an “outperform” rating and a $54.00 price objective for the company.

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Shares of Novanta (NOVT) opened at $57.60 on Friday. Novanta has a 52-week low of $22.10 and a 52-week high of $58.15. The stock has a market capitalization of $1,990.00, a P/E ratio of 34.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.93 and a quick ratio of 2.00.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. Novanta had a return on equity of 18.29% and a net margin of 12.45%. The company had revenue of $146.30 million during the quarter, compared to analysts’ expectations of $132.10 million. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue was up 49.5% on a year-over-year basis. sell-side analysts anticipate that Novanta will post 1.58 EPS for the current year.

In other news, Director Stephen W. Bershad sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $52.55, for a total value of $26,275,000.00. Following the completion of the sale, the director now directly owns 1,711,648 shares of the company’s stock, valued at $89,947,102.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

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